Required information Problem 22-2A (Algo) Allocation of indirect expenses to departments LO P2 (The following information applies to the guestions displayed boiow) National Retail has two departments, Housewares and Sporting Indirect expenses for the period follow. The company occuples 4.000 square feet of a rented building in prior periods, the company divided the $80.000 of indirect expenses by 4,000 square feet to find an average cost of $20 per square foot and then allocated indirect expenses to each degariment based on the square teet it occupied. The compeny now wants to allocate indirect expenses using the allocation bases shown below. Problem 22-2A (Algo) Part 2 2. Alocate indirect expenses to the two departments. Rem expense is allocated based on square feet occupied, Aovertising expense 2. Allocate indirect expenses to the two departments. Rent expense is allocated based on square feet occupied. Advertising expense is allocated based on total sales. Insurance expense is allocated based on the value of insured assets